Cryptocurrency firm Bakkt warns it may not be able to continue operating
Cryptocurrency platform Bakkt issued a warning today that it may not be able to continue operating. The company stated in a filing submitted to the US SEC, "We may not be able to continue as a going concern. We believe that our cash and restricted cash may not be sufficient to fund our operations for 12 months following the filing."
The company was founded by Intercontinental Exchange, which owns large derivatives exchanges and the New York Stock Exchange. Bakkt went public in 2021 and closed at $1.45 per share on Wednesday, lower than its peak of over $40 in 2021.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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